Latest news with #Dh405
Gulf Insider
4 hours ago
- Business
- Gulf Insider
Dubai Gold Rate At Highest In 10 Days - Hurts Pre-Holiday Buys
At Dh375.25 a gram for 22K, the Dubai gold rate has shot up to its highest level in 10 days – and coming at a time when expat-residents in the UAE are still deciding whether to buy jewellery ahead of their summer holiday trips home. (The 24K gram is back over Dh400 and currently at Dh405.) One has to go back to June 2 to find a price higher than today's early rate. On June 2, a 22K gram was costing Dh376.5. (In India one tola (12 grams) is currently at Rs107,440 plus level. The Saudi gold price for 22K is Dh380 for a gram.) 'The hope is that like it did after June 2, gold prices would see some slipping back to under Dh370 levels soon,' said a gold retailer. 'There's price-resistance at anything over Dh370 from resident gold buyers. 'The one thing they had been hoping for was some price stability, even if it was Dh369. But the moment the price crosses Dh370, demand takes a serious hit.' In the global market, bullion has been having an extremely busy time, gaining over $50 to $3,370 an ounce level. The way price movements are happening, analysts say there is a clear chance to push towards $3,400. If that happens, then gold could be in for some serious upward price movement. It was in April that gold hit its highest on record, at $3,500 when global tensions over US trade tariffs were at its peak.
Gulf Insider
22-04-2025
- Automotive
- Gulf Insider
Dubai to Auction 90 Premium Number Plates
Dubai's Roads and Transport Authority (RTA) is set to auction 90 distinctive vehicle plate numbers, including two, three, four, and five-digit combinations from codes (AA-BB-CC-I-J-O-P-T-U-V-W-X-Y-Z). Among the highlights are the highly sought-after super numbers BB 19, BB 20, and CC 22, which will be available at the upcoming public auction No. 118. The auction will take place on Saturday, April, 26, with registration open now. The event will be held at the Grand Hyatt Dubai Hotel, with bidding commencing at 4.30pm. Interested participants can register for the auction via the RTA website, the RTA app, or at the Customer Happiness Centres in Umm Ramool, Deira, and Al Barsha. Seating is limited, and priority will be given to registered participants. To guarantee a spot, early registration is recommended. On-site registration will also be available at the auction hall starting at 2pm. The sale will be subject to a 5 per cent Value Added Tax (VAT). To participate, customers must have an active traffic file in the Emirate of Dubai, submit a security deposit cheque for AED25,000 payable to the RTA, and pay a non-refundable registration fee of AED120. Payments can be made at the Customer Happiness Centres, via credit card on the RTA website, or through the RTA app. Also read: Dubai: Gold Prices Hit New Record High, 24k Crosses Dh405 Per Gram
Gulf Insider
21-04-2025
- Business
- Gulf Insider
UAE Bank Apologises for 'Error' SMS During System Upgrade
A UAE bank apologised to its customers on Sunday after some of them received 'error' messages that 'seemed fraudulent'. Taking to social media, a frustrated resident said he received debit messages late at night from Emirates NBD which 'seemed like potential fraud'. The customer then said he called the bank but didn't get any response for almost an hour 'Your so called big bank doesn't have customer care agents who can attend calls and after 45 to 60 minutes someone attended the call and apologised saying it was a technical error,' the user wrote online. The bank then clarified that the SMS titled 'RA DISB MIGRATION' was an error during its system upgrade. 'Thank you for reaching out. If your call pertains to the SMS you received today 'RA DISB MIGRATION', please disregard the message from ENBD. It was sent in error during our system upgrade.' The bank's social media has been flooded with customers complaining of similar transaction scares. Another user shared his experience. 'Had the same. Big panic attack only to be told it's an error from the bank side.' The bank further stated that there were no changes to the customers' bank account balances while apologising for any inconvenience it had caused. 'We sincerely apologise for any inconvenience this may have caused. Thank you so much for your understanding,' it added. Also read: Dubai: Gold Prices Hit New Record High, 24k Crosses Dh405 Per Gram
Gulf Insider
21-04-2025
- Business
- Gulf Insider
Dubai: Gold Prices Hit New Record High
Gold prices in Dubai jumped to a new record high on Monday morning as 24K crossed Dh405 per gram. The Dubai Jewellery Group data showed 24K trading at Dh405.25 per gram on Monday morning while 22K was selling at Dh375.25 per gram. Among the other variants, 21K and 18K were trading at Dh360.0 and Dh308.5 per gram, prices in Asia surged to touch a record high of $3,370.17 per ounce as concerns about tariffs and criticism of the Federal Reserve by US President Donald Trump hit the read: UAE Weather: Temperature Spike Expected Across All Emirates 20 minutes ago 16 hours ago 2 days ago
Khaleej Times
21-04-2025
- Business
- Khaleej Times
Dubai: Gold prices hit new record high, 24k crosses Dh405 per gram
Gold prices jumped to a new record high in Dubai on Monday morning as 24K crossed Dh405 per gram. The Dubai Jewellery Group data showed 24K trading at Dh405.25 per gram on Monday morning while 22K was selling at Dh375.25 per gram. Among the other variants, 21K and 18K were trading at Dh360.0 and Dh308.5 per gram, respectively. Gold prices in Asia surged to touch a record high of $3,370.17 per ounce as concerns about tariffs and criticism of the Federal Reserve by US President Donald Trump hit the markets. Many markets were closed on Friday and some remained closed for Easter Monday. Charu Chanana, chief investment strategist at Saxo in Singapore, said markets are already on edge due to escalating geopolitical tensions, and now concerns are rising that Trump's potential interference with the Fed could add another layer of uncertainty. "Any signs of political pressure on monetary policy could undermine the Fed's independence and complicate the path ahead for interest rates just as investors are looking for stability amid global volatility,' he said. Saxo Bank and Citi Research recently raised their 2025 forecast for gold to $3,500 per ounce. 'Market participants closely watch interest rate expectations set by the Federal Reserve, as they heavily influence the attractiveness of gold. Currently, the futures market is pricing in the possibility of a 75–100 basis point rate cut before year-end, suggesting a more accommodative monetary policy. Lower interest rates reduce the opportunity cost of holding gold (which doesn't pay interest), thereby supporting its price,' said Saxo Bank.
